3 Top Cloud Stocks to Buy in February
Cloud computing is among the most important inventions to impact the information technology (IT) industry since the dawn of the internet itself. Infrastructure providers like Amazon, Microsoft, and Alphabet are building huge data centers around the globe that enable software companies to build and deploy products without any hardware except a few laptops. This has revolutionized the software market and sparked a multi-decade transition from on-premise computing hardware to this outsourced computing process.
Analysts expect the global cloud market to hit over $1.5 trillion in annual revenue by 2030, a number that will only grow from there. Here are three top cloud stocks to buy in February to help you ride this long trend.
Salesforce (NYSE: CRM) is a pioneer in cloud-deployed software. The Silicon Valley giant is the leading software provider for enterprise sales reps, call centers, marketing departments, and data analytics teams under its Customer 360 platform. These are huge markets with tens of millions of workers around the globe, creating a large addressable market for Salesforce to go after. By 2026, management estimates there will be a total addressable market (TAM) of $290 billion across its entire product portfolio.
Source Fool.com
